SolarBank (NASDAQ:SUUN) Earns “Buy” Rating from HC Wainwright

SolarBank (NASDAQ:SUUN)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 33.33% from the company’s current price.

SolarBank Price Performance

SolarBank stock opened at $4.50 on Tuesday. SolarBank has a one year low of $1.95 and a one year high of $7.50. The business has a 50 day simple moving average of $3.56 and a 200 day simple moving average of $3.33. The company has a market capitalization of $145.52 million and a PE ratio of -20.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.68.

SolarBank (NASDAQ:SUUN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $2.93 million during the quarter, compared to the consensus estimate of $16.44 million. SolarBank had a negative return on equity of 15.19% and a negative net margin of 10.64%. On average, sell-side analysts forecast that SolarBank will post -0.04 EPS for the current fiscal year.

Institutional Trading of SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC raised its holdings in SolarBank Co. (NASDAQ:SUUN) by 91.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the quarter. Virtu Financial LLC owned about 0.07% of SolarBank worth $103,000 as of its most recent SEC filing.

SolarBank Company Profile

SolarBank Corporation operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the site origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects.